Update on ElidaElida is 50 years old, married and has three adult children. She is from Chinandega Department, which is located in the western part of the country. Elida has worked for 10 years selling various articles of new clothing, such as pants, shirts, skirts, shorts, dresses, camisoles, underwear and bedclothes. Her daily routine is to work 10 hours per day with a bundle weighing 20 kg offering her merchandise as a travelling vendor to both regular and occasional customers. She started her business many years ago out of necessity in order to provide income for her family, since at that time they were going through a difficult situation because her husband did not have work. Currently, her business generates profits and is her daily work and source of income.
Elida needs financing in order to invest in working capital and to buy new merchandise. Her dream is to someday renovate her home and install her clothing store in it, instead of selling her merchandise as a travelling vendor. Elida is grateful for the help that Kiva lenders offer people with few resources and poor countries like Nicaragua, so that they can have a dignified way to work.
Previous Loan DetailsElida is 49 years old. She sells clothing and soft drinks. She has more than 9 years experience in this way of life. She is a responsible person and she enjoys her work. Elida dreams of having a much larger facility and to be able to offer a greater variety of products. Her reason for thi... More from Elida's previous loan »
Fundación Leon 2000This loan is administered by Fundación Leon 2000. Fundación Leon 2000 began operations in 1993 as the first microfinance institution to serve the western part of Nicaragua, a country which continues to be one of the poorest in the western hemisphere. Fundación Leon 2000 works to further the development of micro, small, and medium enterprises through credit services and management, applying the best credit industry practices and technical expertise. Additionally, Fundación Leon manages several business and financial education programs in the community, specifically for young entrepreneurs and at-risk youth. Fundación Leon 2000’s group of experienced and dedicated employees works in 7 offices in Leon, Chinandega, Chichigalpa, Somotillo, Jinotepe, El Sauce, and Nagarote and serves several thousand clients (the majority of whom are women).
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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Success!! The loan was 100% repaid